The National Allowance Commission (NIC) is insisting that abandoning of discounts on premiums or alarm it “Enhanced No Claims Discount” would not access the amount paid by policyholders.
The Commission beforehand this ages directed all allowance firms to abandon acceding discounts on premiums beneath the “Enhance No Claims Discount” directive.
According to the NIC, the charge forms allotment of measures to accord with some ailing practices which is believed to be affliction the industry.
Concerns with the directive
However, there are fears that this may access the amount of premiums thereby appraisement out some policyholders. Some argued that for instance if one was now advantageous GH₵100 for a 50 per cent abatement on a policy, accomplishing abroad with this convenance would absolutely access the exceptional to about GH₵200 Ghana.
NIC on concerns
According to the Commissioner of the National Allowance Commission, Justice Ofori there is no way that this would account an access because there is a minimum accustomed amount that all the allowance firms should be alive with.
He added that “we don’t appetite what happened in the cyberbanking industry to appear to our area that is why we are demography these steps”. Mr Ofori was of the appearance that the charge would aftereffect in added allowances for policyholders in the country.
Extension of No claims abatement directive
It was initially anticipation that the charge would alone affect third-party motor insurance. But in a new letter to the allowance players, the National Allowance Commission maintained that it covers all classes of allowance products.
Click actuality to apprehend NIC’s directive
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